assembly Bill A8864

Signed By Governor
2013-2014 Legislative Session

Relates to the sale of municipal obligations by the county of Erie

download bill text pdf

Sponsored By

Archive: Last Bill Status Via S6687 - Signed by Governor


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed by Governor

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Actions

view actions (12)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 30, 2014 signed chap.74
delivered to governor
Jun 09, 2014 returned to senate
passed assembly
home rule request
ordered to third reading cal.834
substituted for a8864
Jun 09, 2014 substituted by s6687
May 30, 2014 advanced to third reading cal.834
May 29, 2014 reported
May 28, 2014 reported referred to ways and means
Feb 25, 2014 referred to local governments

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Multi-Sponsors

A8864 (ACTIVE) - Details

See Senate Version of this Bill:
S6687
Law Section:
Local Finance Law
Laws Affected:
Amd ยง54.50, Loc Fin L
Versions Introduced in 2015-2016 Legislative Session:
S4300

A8864 (ACTIVE) - Summary

Relates to the sale of municipal obligations by the county of Erie.

A8864 (ACTIVE) - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  8864

                          I N  A S S E M B L Y

                            February 25, 2014
                               ___________

Introduced  by  M.  of A. SCHIMMINGER, PEOPLES-STOKES, KEARNS, CORWIN --
  read once and referred to the Committee on Local Governments

AN ACT to amend the local finance law, in relation to the sale of munic-
  ipal obligations by the county of Erie

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Section 54.50 of the local finance law, as amended by chap-
ter 89 of the laws of 2013, is amended to read as follows:
  S 54.50 Costs of sales; county of Erie. To facilitate the marketing of
any  issue  of  serial bonds or notes of the county of Erie issued on or
before June thirtieth, two thousand [fourteen] FIFTEEN such county  may,
notwithstanding  any  limitations  on private sales of bonds provided by
law, and subject to approval by the state comptroller of the  terms  and
conditions of such sale:
  a.  arrange for the underwriting of its bonds or notes at private sale
through negotiated agreement, compensation for such underwriting  to  be
provided  by  negotiated  fee  or  by  sale of such bonds or notes to an
underwriter at a price less than the  sum  of  par  value  of,  and  the
accrued interest on, such obligations; or
  b.  arrange for the private sale of its bonds or notes through negoti-
ated agreement, compensation for such sales to be provided by negotiated
fee, if required. The cost of such  underwriting  or  private  placement
shall be deemed a preliminary cost for purposes of section 11.00 of this
chapter.
  S 2. This act shall take effect immediately.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13668-01-4

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